News Centre

MNI Indicators: MNI China Liquidity Index™ – January Liquidity High

Date 31/01/2024

Key Points – January Report

China's interbank liquidity eased in January to the most relaxed conditions since December 2022, as the central bank made MLF and OMO adjustments, while unexpectedly cutting the RRR to support sentiment, the latest MNI China Liquidity Index showed.

ASIC: Court Declares Westpac Engaged In Unconscionable Conduct For Interest Rate Swap, Maximum Penalty Applied

Date 31/01/2024

The Federal Court has declared Westpac Banking Corporation (Westpac) engaged in unconscionable conduct in October 2016 when executing a $12 billion interest rate swap transaction, the largest of its kind in Australian financial market history.

Bursa Malaysia Reports RM252.4 Million Profit After Tax, Zakat And Minority Interest For Financial Year Ended 31 December 2023

Date 31/01/2024

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) recorded a Profit After Tax, Minority Interest and Zakat (“PATAMI”) of RM252.4 million for the financial year ended 31 December 2023 (“FY2023”), a 11.4% increase from the RM226.6 million reported in the previous financial year ended 31 December 2022 (“FY2022”). The growth in PATAMI is attributed to higher operating revenue by 1.3% to RM592.8 million from RM585.3 million in FY2022. Meanwhile, total operating expenses saw a 0.6% marginal increase to RM294.5 million from RM292.7 million in FY2022.

SGX Securities Debuts First Active ETF

Date 31/01/2024

• SGX marks new milestone with first active ETF
• Underscores commitment to pioneer new financial instruments catering to the evolving market landscape

ASIC Releases Summary Document For Indigenous Financial Services Framework Workshop

Date 31/01/2024

KEY POINTS

• ASIC has published a summary document on Understanding and Responding to Identification Challenges for First Nations Consumers following a November workshop.
• The workshop canvassed real life consumer experiences and highlighted projects and initiatives that could be broadly adopted.
• Access the summary document from ASIC’s virtual workshop on identification challenges.

Speech By Samantha Barrass, Chief Executive, New Zealand Financial Markets Authority, To The Financial Services Council Outlook 2024

Date 31/01/2024

This is my third FSC outlook event. There is, as I’m sure you’ve all now realised, much to cover in thirty minutes. Before I do that, I want to pause, and acknowledge the work of everyone at the FSC, including Rob Flanagan. The work of the FSC, from the Board to its staff, to members whose staff contribute to its committees, is vital in our engagement-led approach.  

We're Not There Yet: Current Regulation Around AI May Not Be Sufficient - Keynote Address By ASIC Chair Joe Longo At The At UTS Human Technology Institute Shaping Our Future Symposium, 31 January 2024

Date 31/01/2024

KEY POINTS

• ASIC Chair Joe Longo spoke at the UTS Human Technology Institute Shaping Our Future Symposium on the current and future state of AI regulation and governance.
• All participants in the financial system have a duty to balance innovation with the responsible, safe, and ethical use of emerging technologies – and existing obligations around good governance and the provision of financial services don’t change with new technology.
• ASIC will continue to act, within our remit, to deter bad behaviour whenever appropriate and however caused. Our focus is – and will always be – the safety and integrity of the financial system and positive outcomes for consumers and investors.

NZX Full Year 2023 Shareholder Metrics

Date 31/01/2024

Please see attached NZX Limited Full Year 2023 Shareholder Metrics.

CFTC’s Energy And Environmental Markets Advisory Committee To Meet February 13

Date 30/01/2024

CFTC Commissioner Summer K. Mersinger, sponsor of the Energy and Environmental Markets Advisory Committee (EEMAC), today announced the EEMAC will hold a public meeting from 9:00 a.m. to 11:30 a.m. (MST) on Tuesday, February 13 at the Colorado School of Mines in Golden, Colorado. Members of the public may also attend the meeting virtually or in person, if space permits. 

New York Attorney General James Sues Citibank For Failing To Protect And Reimburse Victims Of Electronic Fraud - Citi Maintains Poor Security And Anti-Fraud Protocols, Leading To Millions Of Dollars In Losses For New York Account Holders

Date 30/01/2024

New York Attorney General Letitia James today sued Citibank, N.A. (Citi) for failing to protect and refusing to reimburse victims of fraud. The lawsuit alleges that Citi does not implement strong online protections to stop unauthorized account takeovers, misleads account holders about their rights after their accounts are hacked and funds are stolen, and illegally denies reimbursement to victims of fraud. The Office of the Attorney General (OAG) has found that the bank fails to respond to fraudulent activity appropriately and quickly. As a result of Citi’s lax security, New York customers have lost millions of dollars, and in some instances, their entire lifesavings, to scammers and hackers. Attorney General James is seeking to hold Citi accountable for failing to protect its customers and require the company to pay back defrauded New Yorkers with interest, pay penalties, and adopt enhanced anti-fraud defenses to prevent scammers from stealing consumers’ funds.